☩ SOTERIAN GLOSSARY ☩

Living Language Lexicon of the Soteria Covenant

Defalcation

The misappropriation of money held in trust — embezzlement by a fiduciary. Also, the failure of a fiduciary to account for funds. A ground for non-dischargeability in bankruptcy.

Etymology: Latin: 'defalcare' — to cut off · Category: Trust Law · Source: Black's Law Dictionary
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